This market valuation is further projected to appreciate at a 7.4% CAGR over the forecast period (2018 - 2023). Certainly, advances in medical technologies act as a key driving force for the growth of the market.
According to Market Research Future (MRFR), the global varicose veins treatment market had created a value of USD 415.9 MN in 2017.
Conversely, the high cost of treatment and stringent government regulations are the factors estimated to act as growth impeders for the varicose veins treatment market. Also, the lack of knowledge among patients about the availability of varicose veins treatments inhibits market growth.
The market appears well-established with several novel procedures such as radial laser fibers, radiofrequency ablation, laser treatment, steam ablation, and microwave ablation therapy are trending in the market. Besides, the increasing demand for advanced treatment options and growing healthcare expenditure is accelerating the growth of the market.
Players leading the global varicose veins treatment market include Medtronic, Biolitec AG, AngioDynamics, Syneron Medical Ltd., Eufoton s.r.l., Lumenis Energist Ltd., Teleflex Incorporated, Quanta System, Dornier MedTech, Scranton Gillette Communications, Sciton, Inc., Fotona d.o.o., BTG International Ltd., and Merz North America, Inc., among others.
Global Varicose Veins Treatment Market – Competitive Analysis
Fiercely competitive, the varicose veins treatment market appears fragmented due to the presence of several well-established players. Trends such as innovation, mergers & acquisitions, collaboration, and launch of a new treatment method remain popular among key players.